In the previous session, market had a corrective move with a negative bias throughout the day. The Nifty index opened on a positive note but soon slipped into negative territory. No recovery was seen in the market today. The Index formed a strong Bearish candle on the chart and closed with a net loss of 186 points. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

 Look at the below research report of ‘Stocks to Buy for Thursday, December 22,2022‘ before the market opens.

Ipca Laboratories Ltd

Last session, we have seen good buying in the Pharma Sector. We have shown the chart of IPCALAB. Stock prices are moving in the form of Double Bottom pattern. Previously, stock formed a Bullish candle on the chart and closed with a net gain of 2.57%. Since price has comfortably closed above the neckline of the said pattern, which suggests positive bias for the short term. In addition, the Relative Strength Index (RSI) on the daily chart is 63 indicating strength in the stock.

In short, one can initiate buy at current price and add more on dips around support levels near 880 levels. We can expect it to reach a target of 924/945 levels. This outlook is valid as long as we do not see any closing below 860 levels.

Check More Analysis on IPCALAB at: Ipca Laboratories Ltd